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The five-year five per cent premium Treasury bonds were fixed-rate bonds issued for a period of nine years, with an interest rate of five per cent. This meant that investors who bought these bonds received an annual interest of 5% on the invested capital. In addition, Treasury bonds could also offer premiums, which represented additional value for investors.
Bearer bonds had denominations ranging from 5,000 to 500,000 Italian lire. As bearer bonds, they could be transferred by physical delivery of the security and traded on the secondary market.
At the end of the nine-year period, investors received repayment of the invested capital together with accrued interest. Treasury bonds could be cashed in at the relevant offices or through authorised financial intermediaries.
